Journal of Family and Economic Issues
As an extension of our prior Scale Validation work, the NEFE research team, along with our subject-matter expert panel, collaborated on a special issue of the Journal of Family and Economic Issues (JFEI) on measurement quality. This important collaboration advances the empirical evidence base on measurement, but also furthers crucial conversations needed in the field, while highlighting a commitment to increasing support for measurement efforts in family finance. As Warmath, Le-Baron Black & Wilmarth (2026) explain, “Despite the fundamental importance of measurement, it receives relatively little attention in the field of family finance” (para. 1). NEFE contends that this phenomenon extends to the entire Personal Finance Ecosystem’s research base and is one of the main reasons we’re dedicating our resources to make this a strategic imperative.
Out of the 10 articles included in this special issue, four were directly related to the Scale Validation work and its associated dataset collected to address validation efforts for marginalized populations not typically included in these efforts. To supplement these four empirical articles, the “Introduction to the Special Issue on Measurement” (Warmath, et al., 2026) is a starting place for readers to orient to the contents of this special issue from a high-level perspective. Additionally, “Adding Equity Considerations to Construct, Scale, and Model Development in the Field of Financial Education” (Caraballo, 2026) offers an important framework for integrating culturally responsive, relevant and equitable measurement practices.
We invite you to peruse the open-access articles provided here and to also visit the Journal’s website for more information and additional articles.
Introduction to the Special Issue on Measurement
Dee Warmath, Ashley B. LeBaron-Black & Melissa Wilmarth
Quality measurement is a requirement for good science and an important consideration in whether the science should be relied on for policy, program development, innovation, and future research. Despite the fundamental importance of measurement, it receives relatively little attention in the field of family finance. This special issue seeks to stimulate conversation on the subject and communicate JFEI’s commitment to supporting measurement efforts.
Improving Measurement in the Study of Consumer Finance: Consensus from the NEFE Scale Validation Project
Dee Warmath, Katrina Borowiec, Ashley B. LeBaron-Black, Gary Mottola, Miranda Reiter, Kurt Schindler & Joshua Caraballo
Research conducted in the areas of consumer/household finance and financial education is intended to inform policy, programs, and practices that encourage more positive financial decisions and outcomes. The way in which that research is conducted matters. The development, selection, and use of measures is a core element of our research; however, little attention is paid to the topic. The objective of the consensus process reported in this paper was to identify impactful and feasible recommendations for the improvement of measure-related decisions in this field.
The Concept of Money Management Across Poverty Levels
Dee Warmath, Ashley B. LeBaron-Black, Gary Mottola & Kurt Schindler
In our field, there are few opportunities to examine (and demonstrate) the properties of existing measures. A recent survey of 993 US adults conducted by the National Endowment for Financial Education (NEFE) provides such an opportunity. In this study, we examine the factorial validity, reliability, and measurement invariance of the Brief Money Management Scale.
Adding Equity Considerations to Construct, Scale, and Model Development in the Field of Financial Education
Joshua Caraballo
Measurement, as a broad umbrella term, is often treated as a methodological detail, but in reality, it is a matter of accuracy, precision, and the epistemological outcomes that address equity and justice through the associated models intended to improve peoples’ lives. The instruments we use to capture constructs such as financial capability, financial well-being, and financial behaviors influence the conclusions we draw, the interventions we design, and the policies for which we advocate.
An Overlooked Population: Why Linguistic Background Matters in Personal Finance Survey Design
Katrina Borowiec, Miranda Reiter, Ashley B. LeBaron-Black & Kurt A. Schindler
Linguistic diversity in the United States is growing. While language is often a focal area of consideration when designing and validating international surveys, the diversity of language within one individual country may be overlooked. Indeed, despite the diversity of languages used in the United States, most surveys are still administered in English. Depending on English language proficiency, question reading levels and question complexity may impact the responses provided.